Why in news
Weeks after the Union Environment Ministry announced the rules for its Green Credit Programme (GCP).
10 States have identified parcels of degraded forest land.
Its totalling about 3,853 hectares.
That will be available for individuals, groups, public and private sector units to earn and potentially trade green credits.
A perusal of public documents suggests that Chhattisgarh and Madhya Pradesh alone account for up to 40% of the forest land made available.
Under the scheme, registered and approved entities can pay to finance afforestation projects in specific tracts of degraded forest and wasteland.
The actual afforestation will be carried out by State forest departments.
Two years after planting — and following an evaluation by the International Council of Forestry Research and Education (ICFRE), an autonomous body of the Environment Ministry — each planted tree could be worth one ‘green credit’.
Green Credit Programme (GCP)
A market-based incentive program launched by the Indian government.
Aims to encourage individuals, organizations, and local bodies to take voluntary actions that benefit the environment.
Participants earn "green credits" for undertaking activities in eight areas
Tree plantation
Water conservation
Sustainable agriculture
Waste management
Air pollution reduction
Mangrove conservation
Ecomark products (environmentally friendly)
Sustainable building and infrastructure
Each activity has specific thresholds and benchmarks to qualify for green credits.
A dedicated website will be used for registration and verification of activities.
Green credits are awarded based on factors like resource use, project scale, and environmental impact achieved.
Earned credits can potentially be traded on a proposed domestic green credit market platform.
Promotes environmental consciousness and motivates collective action towards sustainability.
Rewards positive environmental practices beyond just carbon reduction.
Complements the existing carbon credit system for a more holistic approach.
Part of the government's LiFE (Lifestyle for Environment) campaign.
Programme administration falls under the Indian Council of Forestry Research and Education.
Green credits earned due to legal obligations cannot be traded.
COMMENTS